Chemung Financial Corp to Issue Quarterly Dividend of $0.34 (NASDAQ:CHMG)

Chemung Financial Corp (NASDAQ:CHMG) declared a quarterly dividend on Thursday, May 21st. Stockholders of record on Wednesday, June 17th will be paid a dividend of 0.34 per share by the bank on Wednesday, July 1st. This represents a c) dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date is Wednesday, June 17th.

Chemung Financial has raised its dividend by an average of 0.0%per year over the last three years and has increased its dividend every year for the last 1 years. Chemung Financial has a payout ratio of 21.8% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Chemung Financial to earn $6.86 per share next year, which means the company should continue to be able to cover its $1.36 annual dividend with an expected future payout ratio of 19.8%.

Chemung Financial Stock Up 1.2%

Shares of NASDAQ:CHMG opened at $68.82 on Friday. The company has a market capitalization of $331.71 million, a price-to-earnings ratio of 18.16 and a beta of 0.59. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.02 and a quick ratio of 1.02. The business’s 50-day moving average is $60.46 and its 200-day moving average is $57.47. Chemung Financial has a 1 year low of $43.20 and a 1 year high of $70.83.

Chemung Financial (NASDAQ:CHMG) last announced its quarterly earnings data on Friday, April 17th. The bank reported $1.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.63 by $0.28. The company had revenue of $29.90 million for the quarter, compared to the consensus estimate of $29.21 million. Chemung Financial had a return on equity of 12.45% and a net margin of 12.77%. Equities research analysts predict that Chemung Financial will post 6.75 earnings per share for the current year.

About Chemung Financial

Chemung Financial Corporation serves as the bank holding company for Chemung Canal Trust Company, a community bank founded in 1833 and headquartered in Elmira, New York. With deep historical roots in the Southern Tier of New York, the company has expanded its footprint to serve customers throughout the region, including northern Pennsylvania. Chemung Financial emphasizes relationship-driven banking by combining personalized service with modern delivery channels.

Through its subsidiary, Chemung Canal Trust Company, Chemung Financial offers a comprehensive suite of financial products and services.